Quarterly report [Sections 13 or 15(d)]

COMMITMENTS AND CONTINGENCIES (Tables)

v3.25.2
COMMITMENTS AND CONTINGENCIES (Tables)
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The following table summarizes the Company’s leases as of June 30, 2025 and December 31, 2024 (dollar amounts in thousands):
June 30, 2025 December 31, 2024
Right-of-use assets, included in Other assets $ 13,264  $ 15,147 
Lease Liabilities, included in Other liabilities 15,583  17,759 
Weighted-average remaining lease term (in years) 5.0 5.3
Weighted-average discount rate 5.01  % 4.97  %
The components of lease expense included in general and administrative expenses in the condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Operating lease costs $ 1,256  $ 1,307  $ 2,506  $ 2,521 
Variable lease costs 34  63 67 127
Total lease costs, included in general and administrative expenses $ 1,290  $ 1,370  $ 2,573  $ 2,648 
Cash paid for amounts included in the measurement of operating lease liabilities $ 1,379  $ 717  $ 2,753  $ 2,016 
Schedule of Maturities of Operating Lease Liabilities
As of June 30, 2025, the maturities of operating lease liabilities were as follows (in thousands):
2025 (excluding the six months ended June 30, 2025) $ 2,538 
2026 4,662 
2027 4,000 
2028 1,430 
2029 1,308 
Thereafter 4,275 
Total lease liabilities 18,213 
Less: Imputed interest (2,630)
Total operating lease liabilities $ 15,583